Global impact fund manager LeapFrog Investments, which received a commitment of $500 million from Temasek last year, is raising a $1-billion growth-stage fund that will invest in healthcare and financial services businesses in Africa, South Asia, and Southeast Asia.
International Finance Corporation (IFC), a member of the World Bank Group, has proposed to invest up to $50 million, along with a $50-million co-investment envelope, into the fund – LeapFrog Emerging Consumer Fund IV, according to a disclosure.